AUDUSD=X vs. DAX
AUDUSD=X (AUD/USD) is a currency, while DAX (Global X DAX Germany ETF) is Europe Equities fund tracking the DAX Index. Over the past 10 years, AUDUSD=X returned -0.44%/yr vs 9.57%/yr for DAX. At a 0.45 correlation, their price movements are largely independent.
Performance
AUDUSD=X vs. DAX - Performance Comparison
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Returns By Period
In the year-to-date period, AUDUSD=X achieves a 5.54% return, which is significantly higher than DAX's -1.45% return. Over the past 10 years, AUDUSD=X has underperformed DAX with an annualized return of -0.44%, while DAX has yielded a comparatively higher 9.57% annualized return.
AUDUSD=X
- 1D
- -0.08%
- 1M
- -2.95%
- YTD
- 5.54%
- 6M
- 5.93%
- 1Y
- 7.81%
- 3Y*
- 1.34%
- 5Y*
- -1.78%
- 10Y*
- -0.44%
DAX
- 1D
- 0.26%
- 1M
- 0.49%
- YTD
- -1.45%
- 6M
- -0.46%
- 1Y
- 2.74%
- 3Y*
- 16.82%
- 5Y*
- 7.62%
- 10Y*
- 9.57%
AUDUSD=X vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AUDUSD=X AUD/USD | 5.54% | 7.81% | -9.12% | -0.06% | -6.27% | -5.58% | 9.75% | -0.37% | -9.73% | 8.36% |
DAX Global X DAX Germany ETF | -1.45% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
Correlation
The correlation between AUDUSD=X and DAX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014 | 0.45 |
The correlation between AUDUSD=X and DAX has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.
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Return for Risk
AUDUSD=X vs. DAX — Risk / Return Rank
AUDUSD=X
DAX
AUDUSD=X vs. DAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AUD/USD (AUDUSD=X) and Global X DAX Germany ETF (DAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AUDUSD=X | DAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.04 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 0.19 | +1.30 |
| Martin ratioReturn relative to average drawdown | 3.83 | 0.58 | +3.26 |
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Drawdowns
AUDUSD=X vs. DAX - Drawdown Comparison
The maximum AUDUSD=X drawdown since its inception was -47.87%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for AUDUSD=X and DAX.
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Drawdown Indicators
| AUDUSD=X | DAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.87% | -45.58% | -2.29% |
Max Drawdown (1Y)Largest decline over 1 year | -4.20% | -14.82% | +10.62% |
Max Drawdown (3Y)Largest decline over 3 years | -13.83% | -16.03% | +2.20% |
Max Drawdown (5Y)Largest decline over 5 years | -22.74% | -39.72% | +16.98% |
Max Drawdown (10Y)Largest decline over 10 years | -29.18% | -45.58% | +16.40% |
Current DrawdownCurrent decline from peak | -36.06% | -5.39% | -30.67% |
Average DrawdownAverage peak-to-trough decline | -25.87% | -10.49% | -15.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 4.77% | -3.08% |
Volatility
AUDUSD=X vs. DAX - Volatility Comparison
The current volatility for AUD/USD (AUDUSD=X) is 2.13%, while Global X DAX Germany ETF (DAX) has a volatility of 5.86%. This indicates that AUDUSD=X experiences smaller price fluctuations and is considered to be less risky than DAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AUDUSD=X | DAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 5.86% | -3.73% |
Volatility (6M)Calculated over the trailing 6-month period | 6.65% | 14.79% | -8.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.64% | 18.01% | -10.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.08% | 20.44% | -10.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.66% | 21.25% | -11.59% |
Frequently Asked Questions
AUDUSD=X and DAX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAX has higher volatility (5.86%) compared to AUDUSD=X (2.13%). In terms of maximum drawdown, AUDUSD=X dropped -47.87% vs DAX's -45.58%.
AUDUSD=X currently has the higher Sharpe Ratio (0.82 vs 0.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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